Veritex Holdings, Inc. (NASDAQ:VBTX) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its stake in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 509,839 shares of the financial services provider's stock after selling 22,696 shares during the period. HighTower Advisors LLC owned approximately 0.94% of Veritex worth $13,418,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cornercap Investment Counsel Inc. purchased a new stake in Veritex in the 2nd quarter valued at about $566,000. Renaissance Technologies LLC purchased a new stake in Veritex during the second quarter worth about $730,000. AQR Capital Management LLC increased its stake in Veritex by 66.5% during the second quarter. AQR Capital Management LLC now owns 424,106 shares of the financial services provider's stock worth $8,944,000 after purchasing an additional 169,448 shares during the period. Raymond James & Associates purchased a new stake in Veritex during the third quarter worth about $3,971,000. Finally, Stieven Capital Advisors L.P. increased its stake in Veritex by 2.2% during the second quarter. Stieven Capital Advisors L.P. now owns 404,065 shares of the financial services provider's stock worth $8,522,000 after purchasing an additional 8,600 shares during the period. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

Veritex Stock Performance

NASDAQ VBTX traded up $0.13 on Friday, reaching $30.45. The stock had a trading volume of 305,623 shares, compared to its average volume of 325,311. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. Veritex Holdings, Inc. has a 12-month low of $18.08 and a 12-month high of $31.62. The business's 50-day moving average price is $28.13 and its 200 day moving average price is $24.55. The stock has a market cap of $1.66 billion, a P/E ratio of 19.52 and a beta of 1.38.

Veritex (NASDAQ:VBTX - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.55 by $0.04. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The business had revenue of $113.17 million during the quarter, compared to analysts' expectations of $110.22 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. The company's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts expect that Veritex Holdings, Inc. will post 2.17 earnings per share for the current year.

Veritex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Friday, November 8th. Veritex's dividend payout ratio (DPR) is presently 51.28%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Piper Sandler boosted their price target on shares of Veritex from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. DA Davidson boosted their price objective on Veritex from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. StockNews.com raised Veritex from a "sell" rating to a "hold" rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods downgraded Veritex from an "outperform" rating to a "market perform" rating in a research report on Thursday, October 24th. Finally, Raymond James raised Veritex from a "market perform" rating to a "strong-buy" rating and set a $30.00 price objective for the company in a research report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Veritex presently has an average rating of "Moderate Buy" and an average target price of $29.40.

Insider Transactions at Veritex

In other Veritex news, CEO C Malcolm Holland III sold 12,777 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $27.69, for a total value of $353,795.13. Following the completion of the transaction, the chief executive officer now owns 224,132 shares in the company, valued at approximately $6,206,215.08. This represents a 5.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Sughrue sold 16,820 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.25, for a total value of $508,805.00. Following the completion of the transaction, the director now owns 62,643 shares of the company's stock, valued at $1,894,950.75. The trade was a 21.17 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.60% of the company's stock.

About Veritex

Veritex Holdings, Inc operates as the bank holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company accepts deposit products include demand, savings, money market, and time accounts. Its loan products include commercial real estate and general commercial, mortgage warehouse loans, residential real estate, construction and land, farmland, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.